CORAL SPRINGS, Fla., May 3, 2007 (PRIME NEWSWIRE) -- The Securities Law Firm, Blum & Silver, LLP (http://www.stockattorneys.com) announced today that it has won a significant arbitration award before the National Association of Securities Dealers ("NASD") regarding the sale of fictitious "World Bank Bonds" to an international investor. An NASD arbitration panel awarded approximately $80,000.00 in compensatory damages plus $240,000.00 in punitive damages and other relief to a former customer of Jose Mirabal, an NASD registered broker with Wallstreet Electronica during the relevant time period for selling fictitious "World Bank Bonds." The arbitration panel found Mr. Mirabal had engaged in gross misconduct.
Blum & Silver, LLP continues to investigate, on behalf of other clients, potential sales practice violations of licensed brokers at various securities brokerage firms, for the sale of fictitious "bonds" and other investments. Blum & Silver, LLP is pursuing arbitration suits before the NASD for violations including failure to supervise, negligence, fraud, unsuitability claims, misrepresentation and material omissions of fact and trading activities. Blum & Silver, LLP would greatly appreciate any information from other investors concerning the method or process used by various brokerage firms with regard to clients' trading activity and the handling of their accounts.
This case highlights the ongoing problem of trusted financial advisors selling fictitious investments through gross misrepresentations and false promises to investors in the U.S. and abroad. Blum & Silver, LLP urges victims of financial misconduct to contact Blum & Silver, LLP to learn more about their legal rights.
The Law Offices of Blum & Silver, LLP is a nationally recognized securities and commodities law firm headquartered in South Florida with satellite offices in New York and North Carolina. The primary focus of the firm is representing investors worldwide with their claims for losses due to stockbroker misconduct and brokerage firm negligence in securities and commodities litigation and arbitration matters. The firm is the lead counsel in numerous securities arbitration cases against many brokerage firms. If you wish to discuss this announcement or have information relevant to our securities and commodities arbitration claims, please contact Darren C. Blum, Esq. of Blum & Silver, LLP, at 1-877-STOCK LAW (1-877-786-2552) or visit us on the web at http://www.stockattorneys.com.
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